AP Via Yahoo:
Federal and state authorities are investigating suspicious options trading in Dow Jones & Co. stock prior to an announcement last week of News Corp.'s $5 billion bid for the financial news publisher.
News last Tuesday of the $60-per-share bid by Rupert Murdoch's company sent Dow Jones shares soaring. A spokesman for Dow Jones, which publishes The Wall Street Journal, said Monday that it has received a subpoena from the New York attorney general's office and a request for information from the Securities and Exchange Commission regarding options trading.
News Corp. didn't immediately return a telephone call seeking comment Monday. A company spokesman told the Journal late last week that News Corp. had received a subpoena from Cuomo's office and an inquiry from the SEC. Read more...
Very interesting.
UPDATE: Apparently, the WSJ knew of Murdoch's plans to make a bid, but sat on the story for a week.
